HARRY HUGHES, Governor

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(5) AN AGREEMENT TO REVIEW IN CONJUNCTION WITH THE
DEPARTMENT WITHIN 1 YEAR OF PROJECT APPROVAL LOCAL ORDINANCES AND
CODES RELATING TO BUILDING SETBACKS, PILING DEPTHS, STRUCTURAL
TECHNIQUES FOR MINIMIZING WIND AND STORM DAMAGE, AND BUILDING
AFTER STORM DAMAGE, AND TO SUBMIT APPROPRIATE LEGISLATION WITHIN
90 DAYS THEREAFTER TO THE BODY EXERCISING LOCAL LEGISLATIVE
POWERS FOR ITS APPROVAL OR DISAPPROVAL.

(I) THE FINANCING PLAN SUBMITTED BY THE MUNICIPALITY AND
COUNTY IN WHICH THE PROJECT IS LOCATED SHALL:

(1)  SET FORTH A BINDING PERCENTAGE ALLOCATION BETWEEN
THE MUNICIPALITY AND THE COUNTY OF THE PROJECT COSTS NOT PROVIDED
BY STATE AND FEDERAL ASSISTANCE;

(2)  SET FORTH THE REVENUE SOURCES TO BE RELIED UPON
TO PROVIDE THE LOCAL COSTS, WHICH WITHOUT LIMITATION MAY INCLUDE:

(I)  AS TO THE COUNTY:

1.  THE RECORDATION TAX AUTHORIZED BY
TITLE 12 OF THE TAX - PROPERTY ARTICLE;

2.  THE ADMISSIONS TAX AUTHORIZED BY
ARTICLE 81, SECTION 402 OR DESIGNATED PORTIONS THEREOF;

3.  THE LOCAL INCOME TAX AUTHORIZED BY
ARTICLE 81, SECTION 283 OR DESIGNATED PORTIONS THEREOF;

4.  STATE-COLLECTED, LOCALLY SHARED TAXES,
OR DESIGNATED PORTIONS THEREOF;

5.  TAXES AUTHORIZED BY THE TAX - PROPERTY
ARTICLE;

6.  REVENUES RAISED BY ESTABLISHMENT OF AN
EROSION CONTROL DISTRICT ESTABLISHED PURSUANT TO ARTICLE 25,
SECTIONS 161, AND 163A; AND

(II)  AS TO THE MUNICIPALITY:

1.  TAXES AUTHORIZED BY THE TAX - PROPERTY
ARTICLE;

2.  FEES AND CHARGES AUTHORIZED BY ARTICLE
23A, SECTION 2(B)(33) OR ITS CHARTER;

3.  THE ADMISSIONS TAX AUTHORIZED BY
ARTICLE 81, SECTION 402 OR DESIGNATED PORTIONS THEREOF; AND

(3)  BE ACCOMPANIED BY A GUARANTY OF THE MUNICIPAL AND
COUNTY SHARE OF SUCH COSTS DULY RATIFIED BY THE GOVERNING BODY OF
EACH SUBDIVISION.